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Posts Tagged ‘Mark Thompson’

NY Times Profits Plummet 21 Percent

As usual, the New York Times’ earnings report features both good and bad news (we suppose that pun is intended). While the Times’ digital subscriptions continued to grow, the lack of print ad dollars weighed the paper down. The end result was a 21 percent drop in profits during the second quarter.

The Times added 32,000 digital subscribers during the second quarter, bringing its total to 831,000 — a number that should make staffers proud. Still, total revenue dropped by 0.6 percent, mainly due to a four percent decline in ad revenue. Net income also declined from $20 million in 2013′s second quarter, to just $9 million this quarter.

“We saw continued growth in digital advertising and circulation revenues during the quarter,” Mark Thompson, CEO of the Times Company, said in a statement. “But know that we still have more work to do to transform our business and deliver long-term sustainable revenue growth for the company.”

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Morning Media Newsfeed: USA-Ghana Sets Ratings Record | Apple Settles eBook Suit

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USA-Ghana Sets Ratings Record for ESPN (TVNewser)
ESPN’s last World Cup before turning over the broadcast rights to Fox Sports is off to a good start: Monday night’s USA-Ghana match was the most-watched men’s soccer match ever on ESPN or ESPN2, drawing 11.1 million viewers per minute. Capital New York Univision averaged 4.8 million viewers for its language coverage, according to overnight data from Nielsen. All told, an average of 16 million people watched the game live on television, with at least 1.4 million more watching (legally) online. Bleacher Report But even before that game, ESPN was already enjoying some of its best ratings ever. Through the first 11 games, the networks of ESPN, ESPN2 and ABC had averaged about 3.7 million viewers. That was a 2 percent bump over the 2010 World Cup, which of course included a weekend game featuring the United States and England on ABC. If the ratings from that England match are removed, ratings were up a rather mind-blowing 37 percent. AllFacebook Team USA’s thrilling 2-1 victory caused some 10 million Facebook users to produce more than 15 million interactions on the social network, according to the Facebook Data Science Team. Variety The soccer tourney has already broken the previous global record for online-video streaming. Monday’s Germany-Portugal match drove a peak of 4.3 terabits per second of streaming video on the Akamai Technologies content-delivery network — blasting past the previous high of 3.5 Tbps for the U.S.-Canada men’s hockey semifinal during the 2014 Winter Olympics. The streaming-video peak for the USA-Ghana match came in at 3.2 Tbps, behind last Friday’s 3.5 Tbps for the Spain-Netherlands contest, according to Akamai.

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Morning Media Newsfeed: AT&T to Acquire DirecTV | NYT Publisher Speaks | CNN Fires Editor

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AT&T to Buy DirecTV for $48.5 Billion (NYT / DealBook)
AT&T formally agreed on Sunday to buy DirecTV for about $48.5 billion, striking another transaction meant to overhaul the American telecommunications landscape. CNNMoney The boards of the two companies met on Sunday to approve the plan. “This is a unique opportunity that will redefine the video entertainment industry and create a company able to offer new bundles and deliver content to consumers across multiple screens — mobile devices, TVs, laptops, cars and even airplanes,” said Randall Stephenson, the chief executive of AT&T, in a statement. WSJ Just months ago, Comcast Corp. announced a $45 billion agreement to buy Time Warner Cable, a combination that would serve close to 30 million video subscribers, after proposed divestitures. Meanwhile, Sprint Corp. continues to work on a bid for smaller rival T-Mobile US Inc., people familiar with the matter say. The deal for DirecTV gives AT&T almost 26 million pay TV subscribers and a national footprint in the business at a time when the telecom carrier sees video delivery as core to its future. The Associated Press Dallas-based AT&T’s proposed combination could improve its Internet service by pushing its existing U-verse TV subscribers into video over satellite service, and thereby free up bandwidth on its telecommunications network. AT&T currently offers a high-speed Internet plan in a bundle with DirecTV television service. The acquisition would help it further reap the benefits of that alliance. DirecTV would continue to be based in El Segundo, Calif., following the merger. The companies expect the deal to close within 12 months following a government review.

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NY Times Reports Increases in Ad Revenue and Circulation

NYtimes buildingThe New York Times Company announced its first quarter earnings this morning, and at least for the first three months of the year, things have been going well. The company reported that total revenue increased by 2.6 percent compared to last year, and both print and digital ad revenue were up.

Digital circulation is also up. The Times now has about 799,000 digital-only subscribers, which is pretty impressive. Some of this bump could be credited to NYT Now and Times Premier, the digital products the company launched earlier this month. While the Times wouldn’t comment on how many people are using either one, Mark Thompson, the Times’ CEO, cited NYT Now as “being embraced by the market.”

Despite the good news, everyone at the Times understands there are always rough waters ahead. ”We are certainly not claiming victory in advertising yet; we expect continued month-to-month volatility and recognize that we will face some significantly tougher year-on-year comparisons as the year goes on,” explained Thompson, in a statement.

Morning Media Newsfeed: AP Journalists Shot | Schultz’s Legal Woes | Blade Sues U.S. Gov’t

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AP Photographer Killed, Reporter Wounded in Afghanistan (The Associated Press)
An Afghan police commander opened fire Friday on two Associated Press journalists, killing Pulitzer Prize-winning photographer Anja Niedringhaus and wounding veteran correspondent Kathy Gannon — the first known case of a security insider attacking journalists in Afghanistan. FishbowlNY Niedringhaus and Gannon were covering the nation’s election when a policeman opened fire on their vehicle. Niedringhaus was killed instantly and Gannon was shot twice and later underwent surgery. Politico / Dylan Byers on Media Niedringhaus and Gannon were traveling in a convoy of election workers delivering ballots from the center of Khost city to the outskirts, in Tani district, protected by the Afghan National Army and Afghan police. As they were sitting in the car waiting for the convoy to move, a unit commander named Naqibullah walked up to the car, yelled “Allahu Akbar” — God is Great — and opened fire on them in the back seat with his AK-47. He then surrendered to the other police and was arrested. BBC News The attack came as Afghanistan intensified security ahead of presidential elections on Saturday, in response to threats of violence by the Taliban. The new president will succeed Hamid Karzai, who has been in power since the 2001 fall of the Taliban but is constitutionally barred from seeking a third consecutive term. The run-up to this historic election had already been the bloodiest, and fears of electoral fraud are pronounced. NYT Niedringhaus, a German citizen who was based in Geneva, first came to Afghanistan after joining the AP in 2002, and she quickly formed a partnership with Gannon. They were among a band of female photographers and correspondents who persevered through many years of conflict in Iraq as well as in Afghanistan. In the process, they helped redefine traditional notions of war reporting. Even as they covered the battlefield, they also focused attention on the human impact of conflicts known for their random, unpredictable violence against civilians.

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Arthur Sulzberger Jr. and Mark Thompson Talk Advertising and Family Legacy at the Times

arthur sulzberger

Arthur Sulzberger Jr., chairman of the The New York Times, surveyed a restaurant full of media elites yesterday and declared that his family would never sell the Times. The Ochs-Sulzberger clan has owned the newspaper since 1896 and has a trust mechanism in place to ensure that the publication can’t be sold unless every single family member agrees, according to Sulzberger.

“The family is united around its ownership and its responsibility to maintaining The New York Times and its journalism and its journalistic integrity,” he told interviewer and former Times media reporter Alex S. Jones at the Bryant Park Grill.

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Arthur Sulzberger and Mark Thompson Talk NY Times

NY Times Now Boasts 760,000 Digital Subscribers

The New York Times’ digital offerings continue to lure readers. The Times company announced that in 2013, revenue from digital only subscribers jumped 36 percent. In the fourth quarter alone, the Times added 33,000 digital subscribers for a total of 760,000. Imagine if the paper had started charging for digital access in the late 90s.

The increase in fans of the digital Times was fortunately enough to offset declines in ad sales. Print advertising dropped 1.6 percent during the fourth quarter of 2013, and digital advertising declined by 0.2 percent. Total revenue was essentially flat for the year.

Mark Thompson, CEO of the Times Company, was optimistic about the news. “Our 2013 results reflect progress in some of the fundamentals of our business,” he said.

New York Times Company CEO Plunks Down Seven Figures for ‘Dilapidated’ Four-Bedroom

Perhaps it’s time for Merriam-Webster’s One-Percenter Dictionary. Because as noted this afternoon on Twitter by Michael Calderone and HuffPost Media, this rarefied group’s definition of English-language words can be a little different than yours or ours.

TheCornwallThe Twitter discussion was sparked by an article by The Real Deal Web producer Mark Maurer. The item details the purchase by New York Times Company CEO Mark Thompson and his wife of a $3.4 million unit in Upper West Side cooperative The Cornwall:

Lynn Sullivan of Brown Harris Stevens represented the seller, while Jeffrey Silverstein of Douglas Elliman represented the buyer. The seller was John Ziegler, who lived there for about 35 years and wanted to scale down, Sullivan said.

“The seller didn’t want anyone to rip it apart, but this couple was interested in restoring it,” Sullivan told The Real Deal. “They said, ‘We can see the treasure in a dilapidated castle.’”

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NY Times to Pay Dividend for First Time in Five Years

NYTimesMark Thompson, president and CEO of The New York Times, has made some investors happy. In a statement, he said that the Times Company board decided “That the strength of the balance sheet justified the restoration of a dividend.” It’s the first dividend being paid out by the Times in five years. Starting in late October, shareholders will get four cents per share.

The dividend — which will be doled out a week before the Times announces its third quarter report — applies to Class A and B shares, and will cost the company about $24 million a year.

Despite this move, Thompson emphasized caution going forward. ”Given the expectation of continued volatility in advertising revenue and the fact that our growth strategy is at an early stage of development, we will maintain a prudent view of both the balance sheet and free cash flow,” he said.

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